How your business can stay ahead of cybersecurity issues

The world of cybersecurity is a complex and ever-evolving landscape, and staying ahead of the curve is essential for businesses looking to protect their data and operations. Yemi Saka, a Partner at Deloitte Nigeria, recently shared his insights on the challenges of cybersecurity and the importance of proactive measures in an interview with CNBC Africa. Saka highlighted the need for a strategic approach to cybersecurity, emphasizing the importance of designing systems with agility and resilience in mind. He emphasized the significance of Industry 4.0 and its impact on businesses, noting that exponential technologies are driving significant changes in the way organizations operate. Despite the opportunities presented by Industry 4.0, Saka acknowledged the challenges it poses and the need for businesses to scale effectively and adapt to the rapidly changing technological landscape. Moreover, he discussed the role of regulation in the financial technology (FinTech) sector in Nigeria, emphasizing the importance of balancing innovation with responsibility. Saka noted that while regulation is necessary for safeguarding against risks, it must also evolve to keep pace with technological advancements. He highlighted the blurred lines between personal and professional technology use and stressed the need for regulatory frameworks to adapt to these changes. Data security emerged as a key theme in the interview, with Saka underscoring the critical importance of safeguarding data in the digital age. He emphasized the ongoing battle against cybersecurity threats and the need for proactive strategies to protect organizations from potential breaches. Saka discussed the challenges and opportunities related to data management in the banking sector, emphasizing the need for robust data governance practices and effective data utilization strategies. He highlighted Deloitte's focus on data capabilities and its role in advising clients on data lifecycle management and monetization. Saka emphasized the central role of data in driving digital transformation and underscored the need for continuous improvement in data management practices. When asked about the leadership in driving data initiatives, Saka emphasized the need for a collaborative approach involving regulators and industry stakeholders. He emphasized the importance of a broad stakeholder conversation to shape the future of data governance and management.